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(Courthouse News Service)   Florida is famous for many things, Bitcoin money laundering and drug deals now on its resume. On the plus side, drug dealers now accept Bitcoin, how progressive   (courthousenews.com) divider line 30
    More: Florida, Edwin van der Sar, Silk Road, money launders, digital currency, United States Attorney  
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1421 clicks; posted to Main » on 28 Jan 2014 at 8:07 AM (43 weeks ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



30 Comments   (+0 »)
   
View Voting Results: Smartest and Funniest
 
2014-01-28 12:56:13 AM  
Silk Road was bitcoin only for quite some time.
 
2014-01-28 08:10:30 AM  

feckingmorons: Silk Road was bitcoin only for quite some time.


yeah, this is silly
 
2014-01-28 08:10:43 AM  
The failed war on drugs continues....
 
2014-01-28 08:11:59 AM  
For an untraceable currency there sure seems to be a lot of people getting popped using them for illicit purposes.
 
2014-01-28 08:13:14 AM  
I asked people what they Bitcoin was the other day. Still don't fully understand it. I guess I am just mentally limited. :(
 
2014-01-28 08:14:39 AM  

4seasons85!: I asked people what they Bitcoin was the other day. Still don't fully understand it. I guess I am just mentally limited. :(


Not "they"!!! Dumbass phone! I swear it's the phone!
 
2014-01-28 08:14:45 AM  
And who's responsible for the greenlight laundering around here?

http://www.fark.com/comments/8118557/Bitcoin-CEO-arrested-for-money- la undering-virtually
 
2014-01-28 08:16:08 AM  
 
2014-01-28 08:16:45 AM  

caffeine_addict: Repat from last night

http://www.fark.com/comments/8118557/Bitcoin-CEO-arrested-for-money- la undering-virtually


Dammit.  Foiled.
 
2014-01-28 08:19:40 AM  

caffeine_addict: Repat from last night

http://www.fark.com/comments/8118557/Bitcoin-CEO-arrested-for-money- la undering-virtually


umm.... where did it defect to?
 
2014-01-28 08:25:13 AM  

libranoelrose: feckingmorons: Silk Road was bitcoin only for quite some time.

yeah, this is silly

 
2014-01-28 08:36:13 AM  
Do you know what other type of coin that drug dealers like to use: Cash! Ban all the cash!!!
 
2014-01-28 08:41:17 AM  

Farking Canuck: Do you know what other type of coin that drug dealers like to use: Cash! Ban all the cash!!!


it's being worked on by top people.

top. people.
 
2014-01-28 08:42:06 AM  
Bet that PayPal founder cries himself to sleep every night. Or does he?
 
2014-01-28 08:55:54 AM  

BitwiseShift: Bet that PayPal founder cries himself to sleep every night. Or does he?


I'll bet he sleeps tightly. Bitcoin is a fad that will never find widespread support and will be completely back to the shady recesses of the underworld in a decade. Volatility, lack of trust, and inability to guarantee will see to that.
 
2014-01-28 08:58:40 AM  

BitwiseShift: Bet that PayPal founder cries himself to sleep every night. Or does he?




He's currently building a popular brand of electric car and planning to retire on mars.
I think he'll be ok.
 
2014-01-28 09:10:04 AM  

SDRR: For an untraceable currency there sure seems to be a lot of people getting popped using them for illicit purposes.


The transaction of bitcoins from one wallet to another is anonymous. For everything else, concealing your identity is your own concern.
 
2014-01-28 09:14:41 AM  
Doge coins be better, more comical.
 
2014-01-28 09:31:21 AM  
Silk Road shut down for about 4 weeks, and it's been chugging along happily in the background ever since. Not sure if they'll ever really be able to stamp this sort of thing out.
 
2014-01-28 09:40:49 AM  

SDRR: For an untraceable currency there sure seems to be a lot of people getting popped using them for illicit purposes.


It's like ultimately any sort of interaction is "traceable" if you are resourceful and determined enough.
 
2014-01-28 10:08:03 AM  

4seasons85!: I asked people what they Bitcoin was the other day. Still don't fully understand it. I guess I am just mentally limited. :


Bitcoin is basically an attempt to create a currency that isn't backed by a government (or anything else).  It's popular because it was easy to "mine" (and every miner has an incentive to sell the currency raising the value of what they're discovering) and because one of the biggest early adopters was the Silk Road (online drug marketplace) which gave it a sexy illicitness.
 
2014-01-28 10:42:08 AM  
I don't see what's so difficult about bitcoin, I mean, if I want a danish, I can just go to my nearest bitcoin cafe and transfer over 0.0017167057789466636681539061064941 bitcoins...........transaction done
 
2014-01-28 11:15:58 AM  

nelsonal: 4seasons85!: I asked people what they Bitcoin was the other day. Still don't fully understand it. I guess I am just mentally limited. :

Bitcoin is basically an attempt to create a currency that isn't backed by a government (or anything else).  It's popular because it was easy to "mine" (and every miner has an incentive to sell the currency raising the value of what they're discovering) and because one of the biggest early adopters was the Silk Road (online drug marketplace) which gave it a sexy illicitness.


The Silk Road was probably the worst thing to happen to BitCoin. The concept of "sexy illicitness" making it more attractive is silly. This is a currency.

Like many new things, some of the early adopters decided to use it for less honorable purposes. It may have increased use and given publicity but it also associated it with crime in many people's minds.
 
2014-01-28 11:18:49 AM  

furterfan: I don't see what's so difficult about bitcoin, I mean, if I want a danish, I can just go to my nearest bitcoin cafe and transfer over 0.0017167057789466636681539061064941 bitcoins...........transaction done


Or 1.72 mBitCoins as it would be in the real world.

Fun fact: You can express USD to ten decimal places as well.
 
2014-01-28 03:10:41 PM  
In as few words as possible, could someone please explain to me how  'virtual/fake' money can be used as real money?
 
2014-01-28 03:16:00 PM  

bratface: In as few words as possible, could someone please explain to me how  'virtual/fake' money can be used as real money?


All money is fake. It only has the value that the seller is willing to accept.

Bitcoins can be easily sold on an exchange right now for $800 - $900 USD. That is how much people are willing to pay for them therefore that is how much value they have.
 
2014-01-28 03:54:03 PM  

SDRR: For an untraceable currency there sure seems to be a lot of people getting popped using them for illicit purposes.


Not a fan of all the hype but for what it's worth from what I can gather these people are getting nailed for being  dumb criminals, not because of anything wrong with the  currency/commodity/speculative vehicle thing.
 
2014-01-28 07:22:57 PM  

nelsonal: 4seasons85!: I asked people what they Bitcoin was the other day. Still don't fully understand it. I guess I am just mentally limited. :

Bitcoin is basically an attempt to create a currency that isn't backed by a government (or anything else).  It's popular because it was easy to "mine" (and every miner has an incentive to sell the currency raising the value of what they're discovering) and because one of the biggest early adopters was the Silk Road (online drug marketplace) which gave it a sexy illicitness.


Thanks!! That actually makes sense. I think those I asked were making it really complicated.
 
2014-01-28 09:30:42 PM  

Farking Canuck: All money is fake. It only has the value that the seller is willing to accept.


Exactly. Media of exchange only have value insomuch as people give them value. No matter which form we use, all we're really doing is bartering a single commodity: time.
 
2014-01-29 02:03:40 AM  

pion: time.


I thought it was beer.

Like:

You "Yo, plumber guy!"
PG "Yo! Sup?"
You "Effing plumbing is fbxrd"
PG "Oh, ja, I see. Looks like you had the cowboys in here, mate"
You "Totes. How many beers would it take for you to fix this biatch?"
PG "2 case min for the call out, 3 for the work"
You "Ok, heres some beer tokens to go get them at you own convenience"
PG "Sweet!"
You "I know, right!"
 
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